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direct are of wealth management from morgan stanley smith barney. let's talk about the bottom line here. a middle class family of four, why should they worry? why should a family liking that worry about the fiscal cliff? >> a family in arkansas that makes $55,000 a year will pay $3,000 more a year in taxes if it's fully implemented. that's a pretty big amount of money for an average family to absorb in a year. it slows the economy and ripples through all parts of the united states. we don't think it's going to happen fully. if it were, it would be pretty devastating to the u.s. economy. >> that is a lot of money for these families. but is everyone affected by this? >> yes 121 million taxpayers, 90% of america is affected. the lowest tax bracket goes from 10% to 15%. that's a pretty big rise. >> businesses certainly watching the cliff closely. how would it affect american business if we did go over it? >> we think we would flirt with recession. probably 1% off the gdp would come from it. it would cause unemployment to go higher which would hurt the nation. so goes business so goes americ
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